Arbitral Digest

Matter

[G] Mining Limited v Bolivarian Republic of Venezuela (Paris Court of Appeal RG 21/10427)

Case no.
ARB(AF)/12/5
  1. 22 August 2016Arbitration

    22 August 2016Arbitration

    ICSID Award in ARB(AF)/12/5 dated 22 August 2016

    International Centre for Settlement of Investment Disputes

    Decision summary
    The tribunal found that Venezuela violated Article VII of the Canada–Venezuela bilateral investment treaty by expropriating [G]’s investment without compensation and violated paragraph 6 of the treaty Annex in relation to state measures adopted in 2010. It awarded [G] USD 966.5 million for the uncompensated expropriation.

    Supporting details

    5 participants
    Bolivarian Republic of Venezuela
    [G] Mining Limited
    International Centre for Settlement of Investment Disputes
    Arbitrator
    [R] [L]
    Arbitrator
    [D] [V] [O]
    Arbitrator
    [J] [X]

    5 years, 9 months and 16 days later · 2115 days

  2. 7 June 2022France

    7 June 2022France

    Decision of the Paris Court of Appeal in the case RG 21/10427 dated 7 June 2022

    Paris Court of Appeal

    Case no.
    RG 21/10427
    Decision summary
    The Paris Court of Appeal rejected Venezuela’s application to annul the 22 August 2016 ICSID award in ARB(AF)/12/5. It held that the treaty’s three-year limitation and amicable-settlement requirements concerned the admissibility of claims rather than the tribunal’s jurisdiction, rejected the remaining jurisdiction and excess-of-mandate grounds, and thereby conferred exequatur on the award.

    Supporting details

    3 authorities · 12 participants
    Bolivarian Republic of Venezuela
    Representative
    Luca De Maria (For: Bolivarian Republic of Venezuela)
    Representative
    SELARL Pellerin - De Maria - Guerre (For: Bolivarian Republic of Venezuela)
    [G] Mining Limited
    Representative
    Matthieu Boccon Gibod (For: [G] Mining Limited)
    Representative
    SELARL Lexavoué Paris-Versailles (For: [G] Mining Limited)
    Representative
    Christophe Seraglini (For: [G] Mining Limited)
    Representative
    Freshfields Bruckhaus Deringer LLP (For: [G] Mining Limited)
    Paris Court of Appeal
    Other
    Institutional administrator
    Najma El Farissi

    Authorities cited

    3
    • French Code of Civil Procedure
      statute
    • Canada–Venezuela bilateral investment treaty, 1 July 1996 (Agreement between the Government of Canada and the Government of the Republic of Venezuela on the Promotion and Protection of Investments, 1 July 1996)
      treaty
    • Vienna Convention on the Law of Treaties, 23 May 1969
      treaty

Matter record

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[G] Mining Limited v Bolivarian Republic of Venezuela (Paris Court of Appeal RG 21/10427) · Matter